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I’m a New Landlord – Broken Stuff Phone calls are Fun

by Darwin on October 13, 2011

I promised you I’d report back with the good, bad and the ugly following the college real estate deal we closed on in September. So, after a flurry of activity, stress and frustration on the week of closing, we took a bit of a breather following the close date (all details the college housing deal here). Well, now that it’s October, we started up some routine calls with the property manager to cover some of the items like loose ends from the prior landlord and then boom – he started going into some of the repairs required like kicked-in doors, broken windows, and oh yeah, the new guys in one of the homes are “a bit rowdy”. He they’ve pretty much blown through their security deposit for the year – which is interesting because the seller turned over the full deposit funds to us at closing? But anyway, the trend is interesting. It’s only October. It’s time for a letter home to the parents I suppose, because it might be a long year at that rate! Aside from that, a leaking shower already, but it’s manageable thus far…

Oh, man… That’s crazy. It is early, indeed. I think the letter to the parents will solve it right away. 🙂 I can’t wait to hear how it turns out. Especially since I am considering investing in a college town.